RULE # 1: If your debt interest rate is higher than your targeted investment return, than prioritize paying off debt. Place your money where it does the most good. https://wealthbuildingpowers.com/2018/04/05/four-steps-to-achieve-financial-freedom-by-becoming-debt-free/ If you want to invest in the S&P 500 ETF, which averages about eight to ten percent annual returns you should prioritize paying off HIGH INTEREST credit card debt which can be as high as ~30%. The good news, student loan interest ...Read More
WHAT IF I TOLD YOU THAT BRAND NEW DREAM CAR IS COSTING YOU ~$800,000 OVER THE NEXT 30 YEARS? STILL WANT IT?
Have you noticed how many new car commercials are on television EVERY day? The automobile manufactures spend $ BILLIONS advertisement dollars annually. They hire young, good-looking actors, leaping for joy to acquire a 72-month car payment! Because the car manufacturer and dealers want YOUR HARD EARNED MONEY! If you resist these ads and YOUR own excuses, and invest 30 years of new car money, you will grow YOUR ...Read More
Last week I wrote about debt. Majority of people during their journey to wealth will use and manage debt. But some debt is simply BIG, BAD and UGLY. Too many Americans are deeply in debt, and taking no steps to come out. MY INTRODUCTION TO CREDIT CARD DEBT After college, the easiest credit card to obtain was Sears. I needed to build my credit, so I applied and received the Sears Credit ...Read More